Benefits of Forex Vs. Futures	Forex	Futures
Up to 400:1 Leverage*	Yes	No
Price Certainty †	Yes	No
24-Hour Trading	Yes	Restricted
Commission-Free ‡	Yes	No

Forex offers more Liquidity than Futures
The benefits of trading forex over futures may be significant. The forex market is the largest, most active financial market in the world, executing over $1.5 trillion a day – or about 46 times greater than all futures markets combined. Compared to the $30 billion futures trades executed daily, the volume of the Forex market is clearly superior. The daily futures volume on the CME is only slightly over 2% of the volume generated in the forex market. This tremendous liquidity is one of the many advantages that having full access to the forex market has over futures.

Rapid execution and set prices
In the futures market, you are not offered instant execution or a set price. Electronic trading has not necessarily advanced futures trading, as the execution speed is not stable and the price for fills on market orders is not certain. When trading forex under normal market conditions, you are given price certainty and near instant execution on your orders. With CMS Forex you are able to interact with live streaming prices directly on the chart, and your trades are filled nearly instantly.†

Forex offers higher leverage and lower margin than futures*
The forex market allows traders to place trades with larger leverage than in most futures contracts. And, as a bonus, you can actually specify the degree of leverage that you want to use while trading. With CMS Forex, you are able to trade with up to 400:1 leverage. In futures, there is one margin rate for day traders and another for overnight positions, and these rates vary depending on the size of the transaction. With Forex, you are able to access the same margin rate daytime or nighttime. However traders should note that leverage can work for or against the trader, and that increasing leverage increases both potential gains and losses on any given trade.

Trading forex through CMS Forex is commission-free!‡
When trading futures you have to worry about exchange fees, clearing fees, and commissions.‡ The fees futures traders encounter can put a serious dent in their profits. At CMS Forex, your trades are completely commission-free‡. At CMS Forex, we offer a free $100,000 forex practice account to those that want to interact with the live currency market to learn the ins-and-outs of trading without making any investment – and we also offer mini-accounts that start as low as $200.

‡ CMS is compensated by the spread between the bid and ask prices.

24-hour access to the forex market
The forex market is open 24-hours a day, starting at 5p.m. Sunday EST until Friday at 5p.m. EST, unlike the futures market. This means that as a trader you can buy or sell at any given moment as market conditions change – you don’t have to wait for the market to open again to place your trades. In the futures market, there are overnight contracts, but they can only be sparsely traded, are difficult to access, and the liquidity is minimal. Forex is a constant stream that moves 24 hours a day. With CMS Forex custom alerts can be designed to signal you when the market makes a move you want to be notified about – and we also offer an automated trading system that will buy or sell based on market-specific occurrences you specify (so, if you want to see at a certain rate, should the market move in that direction, the order will be automatically executed for you). To download CMS Forex’s VT Trader for free, please register for a free forex practice account. We also offer live mini accounts that start as low as $200.

* Leverage may increase gains or losses.

† Under normal market conditions.

‡ CMS is compensated by the spread.

Forex is an over-the-counter (OTC) or off-exchange market.